Upgrading from Intel to M1 Processor

As the title notes, I will be upgrading my Macbook Pro (Intel I5) to a Macbook Pro (MI). Here's my question. I presume I can't just use Time Machine to restore my Apple and Windows OS (and all the applications/data) to my new M1 Macbook, right? What would be the proper/best steps to do so. Sorry if this has been covered before. I've read that I need a Windows ARM version (I believe Windows 11 will work) and I currently have Windows 10 (non ARM version) in my old Macbook. Thanks so much in advance!